Merger vote announcement

1 March 2010

Separate Special General Meetings of the Faculty of Actuaries in Scotland and the Institute of Actuaries will be held at 1700 on Tuesday 25 May 2010 to vote on separate Resolutions to form the Institute and Faculty of Actuaries.

 The key elements of the merger package include:

•  a proposal to call a merged body 'the Institute and Faculty of Actuaries'
• revised governance documents reflecting the input from the member consultation
• a proposal for both existing and new members to use the existing letters FIA, FFA, AIA and AFA
• a proposal to continue using 'the Actuarial Profession' for all external branding.

 A joint proposal by the Faculty of Actuaries in Scotland and the Institute of Actuaries to form the Institute and Faculty of Actuaries can be found here. The proposal includes details of the merger package, including the legal structure and governance; the proposed first Council; and information on subscriptions and fees.

 The latest draft of the governance documents, revised in light of helpful input from members during last October's consultation, is here. To ensure we capture as wide a view as possible, if you do have any further comments please send them to govcon@actuaries.org.uk. The deadline for receipt of any comments is 1700GMT on Friday 26 March 2010. This will enable the Profession to produce a final version of the governance documents for inclusion in the voting materials which will be dispatched to eligible members in mid-April.

As part of our commitment to ensuring all members have access to any relevant merger-related communications, and that any merger-related communications are delivered in an appropriate, balanced and timely manner, we invite groups of 10 or more members to create an identified group to present their views of the merger to the membership. You can find more information about this here.

 We will use the Profession's existing communication vehicles (eg The Actuary, website and e-newsletters) to manage the volume of merger-related information so you can choose when and how to access this information. In March the business case for a merger, produced by the Joint Councils, and information about any identified groups will be published. In April, if you are eligible to vote, you will be sent voting materials by Electoral Reform Services.

 If you would like to contribute to the online discussion on the merger, please visit the merger discussion forum. You can request a reminder of your password or a copy of the activation email via the discussion forum or by sending an email to merger@actuaries.org.uk. You can pose questions on the discussion forum or by email to merger@actuaries.org.uk. You can find more details about the merger on the Profession's website or the merger microsite.